Grand Canyon Education Inc (LOPE)

Debt-to-capital ratio

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Long-term debt US$ in thousands — — — — — — — — — 70,760 50,354 51,866 53,755 — 58,057 66,344 74,630 82,916 91,202 99,488
Total stockholders’ equity US$ in thousands 783,853 764,137 759,195 759,447 718,014 650,530 645,425 659,250 637,619 591,556 606,638 706,437 1,045,050 1,400,780 1,542,680 1,588,680 1,574,330 1,520,980 1,489,390 1,448,010
Debt-to-capital ratio 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.08 0.07 0.05 0.00 0.04 0.04 0.05 0.05 0.06 0.06

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $783,853K)
= 0.00

The debt-to-capital ratio of Grand Canyon Education Inc has shown a declining trend from 0.06 as of March 31, 2020, to 0.00 as of December 31, 2024. This indicates that the company has been decreasing its reliance on debt to finance its operations and investments, moving towards a more capital-intensive structure.

However, there was a slight increase in the debt-to-capital ratio in the most recent quarters, rising to 0.08 as of June 30, 2022, and further to 0.11 as of September 30, 2022, before dropping back to 0.00 by December 31, 2022, and remaining at 0.00 for the following quarters.

Overall, the decreasing trend in the debt-to-capital ratio signals that Grand Canyon Education Inc has been managing its debt levels effectively and improving its capital structure over the years. This can enhance the company's financial stability and reduce its financial risk, as it relies less on debt financing.